First Mid Bancshares price target raised to $48 from $47 at Raymond James

Raymond James raised the firm’s price target on First Mid Bancshares (FMBH) to $48 from $47 and keeps an Outperform rating on the shares. The quarter was noisy but solid, with strong loan growth, NIM expansion, and disciplined expense control, and despite some credit metric deterioration, improving NII outlook and durable fundamentals support higher EPS estimates and potential valuation convergence with peers, the analyst tells investors in a research note.